Finance
VANDENBULKE’s banking and finance practice punches above its weight to attract a number of impressive instructions.
Banking and Finance
Our International Banking and Finance practice has wide ranging expertise in both domestic and international work, acting for commercial banks, international development banks, investment banks, funds, multilateral banks and other financial institutions. We also provide comprehensive advice on regulatory financing including the establishment of new financial services businesses.
Our regulatory skills enable us to provide first-class insight, support and advice on the Luxembourg regulatory aspects to of the establishment of financial services business in Luxembourg and obtaining the regulatory authorization from the Luxembourg regulating authorities i.e. CSSF, Insurance regulator or Stock exchange.
We provide one-stop shop for international financial institution willing to establish in Luxembourg. For more information see The HUB By VANDENBULKE.
Capital Markets
We represent all types of market participants in debt and equity securities offerings and accommodate international standards to Luxembourg law and regulatory requirements.
We list bonds and equity instruments of SICAVs, SIFs and SICARs on the Luxembourg stock exchange and the Luxembourg EMTN. Our capital markets clients include issuers, underwriters, investors, selling shareholders, depositaries, and trustees.
We advise clients on the full range of equity and debt securities transactions, including eurobond offerings by corporations and sovereigns,
medium-term note (MTN) programs, high-yield debt offerings, convertible and exchangeable bond offerings, initial public offerings (IPOs), global depositary receipts (GDRs) programs, and offerings of Sukuk (Islamic bonds).
Our transactions include Luxembourg registered offerings, debt and equity private placements, secondary and follow-on offerings, and liability management exercises. We have experience with combined transactions on the New York Stock Exchange, NYSE Euronext, the Warsaw Stock Exchange, the Luxembourg Stock Exchange, among others.
Real Estate Finance
We run a premier real estate financing practice that includes the representation of real estate lenders, borrowers, issuers, underwriters, and investors in ordinary-course, complex, and highly structured transactions in domestic and international markets.
In addition to our general financing practice, we have developed specialties in the representation of Belgian, French, Luxembourg, German, UK and US banks and the financing of REITs. We have advised a significant number of investment funds investing in real estate in Europe and Latin America.
Bank Lending
We advise lenders and borrowers on the full spectrum of secured and unsecured commercial lending transactions, including leveraged acquisition finance, asset-based and cash flow finance, and other corporate lending transactions.
We advise on multi-currency, cross-border borrower and guarantor, and cross-border collateral issues arising in multi-jurisdictional financings with specific focus on Luxembourg. We also represent clients in mezzanine finance transactions that typically involve complex intercreditor and equity holder arrangements.
We deal regularly with complex intercreditor and equity holder arrangements in these transactions and offer clients a keen market awareness of differing standards and market trends for debt and subordination terms.
We act mainly in, financial services, funds management, private equity, media and telecommunications, real estate and technology.
Fund Finance
The members of our fund finance practice are advising agents, lead arrangers and lenders as well as sponsors and PE firms on all forms of Luxembourg-based funds on subscription line, capital call and NAV facilities.
Our range of services include in particular investor call bridge facilities to assist funds in meeting investment obligations, equity bridge facilities to provide funding pending first or final close of a fund, pending bringing co-investment partners into an investment or to provide alternative financing solutions for an investment, “equity commitment” finance structures where direct borrowing by a fund or the giving of guarantees by a fund is not possible, leverage and borrowing base facilities for asset acquisitions (including debt investments, partnership interests and real estate investment portfolios), or co-investment facilities, to support the co-investment commitment of general partners or fund executives.
Leveraged Finance
As part of our general finance practice, we also focus on acquisition financing and other sponsor-driven financings such as dividend recaps as a key area of our offering. On a regular basis we help our clients to structure and implement various forms of leveraged finance transactions – traditional senior/mezzanine financings, unitranche financing and super senior/senior financing. Well versed with the customs and terms of LBO-financings and highly responsive, we execute financings knowledgeably and efficiently in the interest of our clients. We seamlessly cover also the international aspects of leveraged finance transactions such as the granting of cross-border security or guarantor accessions through our established network of specialized law firms in other jurisdictions.
Debt Finance and Securitization
We advise on all aspects of the capital structure. We negotiate senior secured and unsecured syndicated, club, and bilateral credit facilities and asset-based loans. We set-up Luxembourg securitization vehicles whether for purpose of sourcing financing for M&A transactions or refinancing of debt portfolio or esoteric assets. We represent the full spectrum of participants, whether based in Luxembourg or abroad, including originators, sellers and issuers, in implementing their securitization programs.
We routinely assist clients with equity-linked return enhancements, and design hybrid financing programs resorting to Luxembourg specific instruments such as PECS, TPECs, CPECS, Asset Linked Notes otr more generally all types of warrants, convertible notes and direct equity co-investments.
Our experience encompasses all related legal and business issues, including securities and corporate law matters, tax issues, derivatives, accounting and regulatory matters, bankruptcy and insolvency considerations, and security interest questions. We particularly ensure the tax optimization of the securitization transaction and legal compliance with Luxembourg legal requirements and civil law concepts.
Insolvency Financing
VANDENBULKE also serves the interests of international institutional real estate lenders, holding troubled real estate loans and mortgage-backed securities through Luxembourg SPVs as well as borrowers seeking to restructure troubled debt and investors who own or desire to acquire distressed real estate and real estate loans.
VANDENBULKE has acquired extensive experience in the following:
- Representation of both borrowers and new equity sources in negotiating the recapitalization of borrowers as part of an overall financial restructuring strategy.
- Representation of real estate lenders, special servicers, and borrowers in loan restructurings, forbearances, bankruptcy proceedings, judicial and non-judicial foreclosures, receivership actions, and deficiency collection proceedings.
- Defense of lenders with respect to the many types of claims arising from troubled loans, including lender liability.
- Representation of lenders and investors as owners of foreclosed real estate, with respect to a full array of asset management, leasing, and disposition issues as well as the formation and operation of new entities for lenders in syndicated facilities to act as owners of foreclosed collateral.